§ 2202 -   Application for license; license and investigation fees

§ 2202. Application for license; license and investigation fees

(a) Application for a license shall be in writing, under oath, and in the form prescribed by the commissioner, and shall contain the name and the address of the residence and place of business of the applicant, and if the applicant is a partnership or association, of every member thereof, and if a corporation, of each officer and director thereof; also the county and municipality with street and number, if any, where the business is to be conducted and such further information as the commissioner may require.

(b) At the time of making application, the applicant shall pay to the commissioner a fee for investigating the application and a license fee for a period terminating on the last day of the current calendar year. The following fees are imposed on applicants:

(1) For an applicant for a lender's license, $1,000.00 as a license fee, and $1,000.00 as an application and investigation fee for the initial license. For each additional lender license from the same applicant, $500.00 as a license fee and $500.00 as an application and investigation fee.

(2) For an applicant for a mortgage broker's license, other than a mortgage broker that meets each of the requirements of subdivisions (b)(3)(A)-(B), $500.00 as a license fee, and $500.00 as an application and investigation fee.

(3) For an applicant for a mortgage broker's license that meets each of the following requirements, $250.00 as a license fee, and $250.00 as an application and investigation fee:

(A) The applicant is an individual sole proprietor.

(B) No person, other than the applicant, shall be authorized to act as a mortgage broker under the applicant's license.

(4) For an applicant for a mortgage loan originator license, $50.00 as a license fee, and $50.00 as an application and investigation fee.

(5) For an applicant for a sales finance company's license, $350.00 as a license fee, and $350.00 as an application and investigation fee.

(c) In connection with an application for a license, the applicant and each officer, director, and control person of the applicant shall furnish to the Nationwide Mortgage Licensing System and Registry information concerning the applicant's identity, including:

(1) Fingerprints for submission to the Federal Bureau of Investigation, and any governmental agency or entity authorized to receive such information for a state, national, and international criminal history background check.

(2) Personal history and experience in a form prescribed by the Nationwide Mortgage Licensing System and Registry, including the submission of authorization for the Nationwide Mortgage Licensing System and Registry and the commissioner to obtain:

(A) An independent credit report and credit score obtained from a consumer reporting agency described in Section 603(p) of the Fair Credit Reporting Act for the purpose of evaluating the applicant's financial responsibility at the time of application and may obtain additional credit reports and credit scores to confirm the licensee's continued compliance with the financial responsibility requirements of this chapter; and

(B) Information related to any administrative, civil, or criminal findings by any governmental jurisdiction.

(3) Any other information required by the Nationwide Mortgage Licensing System and Registry or the commissioner. (Amended 1979, No. 173 (Adj. Sess.), § 3, eff. April 30, 1980; 1987, No. 117, § 3; 1995, No. 162 (Adj. Sess.), § 3, eff. Jan. 1, 1997; 2005, No. 36, § 2; No. 72, § 2; 2009, No. 29, § 1.)